Big Data at an International Financial Services Firm
For one multinational financial services institution, cost savings is not only a business goal, it’s an executive mandate. The bank is historically known for its experimentation with new technologies, but after the financial crisis, it is focused on building its balance sheet and is a bit more conservative with new technologies. The current strategy is to execute well at lower cost, so the bank’s big data plans need to fit into that strategy.
Big Data at Bank of America
Given Bank of America’s large size in assets (over $2.2 trillion in 2012) and customer base (50 million consumers and small businesses), it was arguably in the big data business many years ago. Today the bank is focusing on big data, but with an emphasis on an integrated approach to customers and an integrated organizational structure. It thinks of big data in three different
“buckets”—big transactional data, data about customers, and unstructured data. The primary emphasis is on the first two categories.
Big Data at a Top 5 Property and Casualty Insurer
Started in 1922 by a handful of military officers who offered to insure each other’s vehicles when no one else would, the insurer has become a financial services powerhouse, offering a broad range of insurance and banking services to military members and their families. The size of its customer base and breadth of products make big data a natural next step in the company’s already-advanced technology portfolio.
How a Malaysian bank used data science to increase its credit card spend
Collaborative filtering – a technique to predict user interest based on the behavior of other users – was applied to detect spending patterns. For example, the bank wanted to know how frequently merchant offerings appeared against customers with specific product holdings. And how often merchant offerings showed up against customers of a particular demographic.
China’s fifth largest bank achieves record response rates with event-based marketing system on Teradata
Teradata (NYSE: TDC), the leading analytic data solutions company, announced that the Bank of Communications, China’s fifth largest commercial bank, has deployed its event-based marketing solution on the Teradata Active Enterprise Data Warehouse platform. The solution will enhance the bank’s ability to make the best decision possible based on its enhanced operational performance and effectiveness.
Malaysia Bank Adopts Artificial Intelligence Early Warning System to Reduce Risks of Non-Performing Loans (NPLs)
The client is one of the largest international banks, headquartered in Singapore with a prominent presence in the Asian region. As a Financial Institution with significant focus on commercial loans, the challenge of managing credit risk from loans turning delinquent is pervasive and a major concern to the bank. With a clear understanding that high NPL ratios demand greater loan provisions, which reduces capital resources available for lending and dents the bank profitability, the Bank decided to embark in this journey to mitigate the risks of NPLs.
Singapore Bank Embraces Machine Learning To Boost Their Advertising Campaigns
The client is one of the largest banking and financial services corporations in Asia. Headquartered in Singapore, the conglomerate has operations across multiple countries around the region. The bank has a substantial budget for digital ad campaigns. In the past, however, a large portion of their digital advertisements were not optimized; their ads were reaching many viewers who either had no interest in their products or lacked the propensity to purchase anything from the bank.
Not really a case study, but it is surely a case for study
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